Gate News Report: On March 25, according to Onchain Lens monitoring, over the past 4 hours, a certain whale address opened 10x leverage long positions in ETH and HYPE, with current positions valued at over $30 million.

Hyperliquid's core token HYPE has recently faced liquidation pressure from whale High Stakes Capital staging a phased exit, causing the price to retreat to $38.86. Despite a 2.72% intraday gain, the whale's cashing out behavior has intensified short-term price volatility, and the market needs to monitor liquidity to assess HYPE's future trend.

According to BlockBeats, on March 25, HYPE's price surged over $40 before experiencing a tug-of-war between bulls and bears. Two whale traders liquidated their positions with different strategies, opening short positions and long positions respectively, with their floating profits and losses in relatively opposite states.

On March 25th, after HYPE's price broke through $40, the battle between bulls and bears intensified, with two whales opening positions in different directions. 0xfaa shorted with 10x leverage, with unrealized gains of $5,300, while 0x965 went long with unrealized losses of $33,000, creating a confrontational situation.

BlockBeats News: Whale "0x96d" deposited 2 million USDC to Hyperliquid, increasing HYPE holdings to 427,851, with unrealized gains of approximately 2.14 million USD. Simultaneously, new wallet "0xa58" invested 2 million USDC, purchasing 51,850 HYPE.

Two whale addresses invested a combined 4 million USDC into Hyperliquid on March 25, increasing their holdings of HYPE. One address increased its position to 427,851 HYPE tokens with unrealized gains of approximately 2.14 million USD; another new wallet similarly invested 2 million USD, purchasing 51,850 HYPE tokens.

On March 25th, HYPE price reclaimed the $40+ level, with early contributor Loracle's unrealized gains reaching $1.4 million, and current holdings valued at approximately $22.3 million. Loracle has been continuously adding positions during price declines, lowering the average cost to $36, having previously bought the dip in January.

HYPE Treasury Company Hyperliquid Strategies Inc announced the launch of options trading for PURR stock on the Nasdaq options market, aiming to enhance liquidity and price discovery mechanisms. Chief Executive Officer David Schamis stated that options trading will help investors manage risk and participate in the company's rapid growth. Hyperliquid recently achieved a new high of $1.74 billion in total open interest due to surging trading volumes, particularly in oil perpetual contracts.

Hyperliquid Strategies Inc. launched options trading for its common stock PURR on the Nasdaq options market on March 25, strengthening its link to crypto assets. PURR offers investors an indirect way to gain exposure to HYPE, with options tools enhancing liquidity and price discovery. CEO David Schamis stated that this helps investors hedge risks flexibly. Despite the company's net losses, HYPE recently increased by approximately 7.37%, reflecting improved market sentiment. The company's HIP-3 market demonstrates continued growing demand for tokenized assets.